Oh Canada Whoa Canada
Tax burden: a clear and present danger to Canada’s prosperity
The idiom “the straw that broke the camel’s back” describes a minor or routine action that causes a large and sudden reaction because of the cumulative effects of many other small actions. This might well describe the state of business investment and entrepreneurship in Canada.
After years of mounting tax and increased regulation, coupled with a decidedly anti-business rhetoric from many capitals across the country, it seems the back of business investment and entrepreneurship in Canada has been broken.
Taxes — the average Canadian family’s largest expense
With home prices rising across the country, many would assume that housing costs (including rent and mortgage including rent and mortgage payments) are the most expensive budget item for the average Canadian family.
In reality, the average Canadian household spends more on taxes than any other expense. Specifically, in 2016 the average Canadian family (including single Canadians) earned $83,105 in income and paid $35,283 in total taxes. That’s 42.5 per cent of income going to taxes
Liberals’ carbon tax racket is coming to an end
It looks like the game is up and the Liberal carbon tax racket is coming apart at the seams.
As recently as early 2018, it seemed like a forgone conclusion that the Liberals would impose their carbon tax from coast to coast. The Trudeau government mandated the tax hike but ordered the provinces to impose and administer the tax.
It’s crafty politics, since the provincial governments, not Trudeau and his team of climate zealots, would carry the burden of imposing the largest tax increase in a generation.
The carbon-tax system isn’t a tax grab. It’s an economic bulldozer
The proposed Greenhouse Gas Pollution Pricing Act weighs in at 236 bilingual pages that are unreadable in either official language
We all know the great eco-fiscal rationale for Canada’s national carbon tax. By putting a tax on carbon emissions, Ottawa is said to be deploying the most effective driver of human behaviour known to economic science: the price system. High price equals lower demand for gasoline and other fossil fuels, and therefore lower carbon emissions that cause global warming. As the self-appointed Ottawa-based NGO known as the EcoFiscal Commission says, imposing a carbon price/tax is way more practical, simple and cost-effective than, say, heavy-handed, complicated and cost-ineffective regulation.Share on Facebook Tweet about this